My Big 3 Real Estate Predictions For 2021

Everyone wants to look into the crystal ball and predict our future real estate market. Well having now done this for 11 years and worked through many market cycles let me outline my educated predictions to help you inform your decision making:

No. 1: It will remain a buyers’ market for the year.

Let me make clear that a buyer’s market doesn’t mean a fire sale. What it means is that you’re generally seeing a discount on properties from previous market highs. It means homes that are well priced are still moving quickly but have factored in the shifting market and overpriced homes will sit on the market longer and become more negotiable. Let’s put it this way for you buyers out there that don’t quite get this: when you walk into a 99 cent store, you are already getting everything for less. So don’t expect to get 99 cent items for 79 cents. 

No. 2: While prices will remain down, velocity will remain high.

A buyer’s market doesn’t mean a dead market and The Glazer Team was very active in 2020 and we will remain very active in 2021. Smart buyers are seeing the opportunities in the market and committed sellers understand the market adjustments and will sell to move onto their next venture. We will still continue to see a strong level of trades and despite what certain people may say, NYC is far from dead. Hey, if the Knicks keep playing like this, NYC will be back to normal in no time!

No. 3: Money will remain cheap.

With all the turbulence in the political landscape it seems safe to say that the fed will keep interest rates down to encourage consumer spending. As a result, amazing loan options will continue to be available through a multitude of banks. Even though the rental market is down, the rent versus own question continues to be murkier with the combination of lower prices and lower interest rates 

So, do you agree with these predictions or do you see the market moving in a different direction? We’d love to hear from you and get your thoughts so drop a comment below and let us know what you think.